What are Additional Account Categories? I'm glad you asked. They are categories that are not included in traditional accounting and are not required to complete the chart of accounts. In The Financial Edge there are four additional account categories...
We have all been in this situation before, running a report and all of a sudden the results are not coming out correctly; be it a Balance Sheet out of balance, or an Income Statement missing activity from a certain expense code. Either way, one of the...
Nothing is more frustrating than when you run your Balance Sheet and the bottom line is out-of-balance . So here you are with an out of balance Balance Sheet that you need to have to your board in an hour, or, even worse, an hour ago. What should you...
The ending balance on the Trial Balance does not match the Balance Sheet. What is going on here? Have any of you ever experienced this frustration? I’m sure you have. There is a valid explanation for this discrepancy: mock close. As a refresher, mock...